Examlex

Solved

Consider the Following Statements: A

question 131

Multiple Choice

Consider the following statements: a.Consumers rent more DVDs from a video store that rents DVDs at a lower price than other rival video stores in the area.
B.Department stores take steps to increase security since they believe it is more costly to allow shoplifting than to install expensive security monitoring equipment.
C.Farmers produce more cotton when its selling price falls.
Which of the above statements demonstrates that economic agents respond to incentives?


Definitions:

Telephone Consumer Protection Act

A law enacted in 1991 in the United States that restricts telemarketing and the use of automated telephone equipment.

Telephone Solicitation

The practice of contacting individuals by phone to promote services or products, often unsolicited.

Limited Check

A check that is void after a certain time limit; commonly used for payroll.

Time Limit

Time Limit refers to a fixed or set duration within which an action, process, or procedure is to be completed or accomplished.

Related Questions